Based on Aggregated Data from Google; Summarized, Analyzed and Narrated by 100FirstHits.com
If you want to be 100% sure to screw up your startup, you should build something that nobody wants. But honestly, no one does that, right? Wrong! It got the highest score in the “Top 10 Startup Mistakes Report 2013” by 100FirstHits.com. We founders consistently keep starting businesses building products and services based on assumptions not tested in reality. To even enable the smallest possibility of success, we have to learn to do market research, ask as many people and companies as we possibly can about our “world-changing-idea”, and not keeping it a secret thinking someone will steal the idea from us. We need to start selling the product or service way sooner than we possibly can imagine, using slides, social media, existing contacts, etc.
Another way we seem to screw up our startups is through hiring poorly. It got the second highest score in the 100FirsHits report. We tend to hire people we like instead of people we need, and we are rushing to hire the wrong people. Hiring is a process, and we founders obviously need to be better in following such processes, or let someone else with the right competence for the job do it for us.
Mistake number three in the 100FirstHits report is the lack of focus syndrome. Most of us founders are running around chasing whatever we can catch, pretty much like happy children chasing hens and roosters on a farm. We need to stop doing that. We need to focus. Make a plan and stick to it. Measure if it works using proper metrics, and if the metrics prove that it doesn’t work, we change the plan and start all over again and again and again.
The score sum for these three startup mistakes account for nearly 70% of the total score in the Top 10 Startup Mistakes Report 2013.
You can download the TOP 10 Mistakes PDF report free of charge here: